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FINANCIAL NEWS
Aramco not expected to reduce rig in 2017
11 Feb 2017
(MENAFN) Industry sources said that State oil giant Saudi Aramco is not expected to reduce its drilling rig count this year and could increase the number marginally as it focuses on natural gas production.
One source, who declined to be identified because of commercial sensitivities: “The increase is mainly in onshore gas – it is realistic and matches their needs.”
Another sources stated: “Aramco seems upbeat from the rigs standpoint.”
However, a third source said: “I still see more efforts being done on gas. The OPEC production freeze agreement is going on and this might affect oil rigs, but the gas side needs rigs so overall the number will be steady.”
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MENAFN1102201700450000ID1095241777
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